Nokia (NYSE: NOK) cut prices of its handsets in July to increase the pressure on its rivals (possibly the company noticed that Motorola was slowing its descent into obscurity) reports Reuters. The biggest cuts were of 10 percent for some music and media handsets, which seems designed to put more pressure on ailing Sony (NYSE: SNE) Ericsson (NSDQ: ERIC) than anyone else. “Nokia has always been extremely tactical with its pricing, pinpointing sweet spots in different segments of the market and making adjustments to wrongfoot competitors,” said Ben Wood, research director at CCS Insight. The price cuts are cutting into Nokia’s bottom line, but it obviously thinks it has less to lose than its competitors.